Press Release
AgCert International Plc - AgCert takes the company private
Dublin, Ireland - April 4, 2008
In Examinership under the Companies (Amendment) Act 1990
Further to the announcements made on 03 December 2007 and 21 February 2008, AgCert International plc ("AgCert" or the "Company") today announces that the appointed Examiner is in the process of preparing proposals that may see the Company resolve its obligations and maintain an ongoing business. In the absence of these proposals being approved by all parties and successfully implemented, there is no reasonable prospect that the Company will be able to continue to operate a viable business. The Examiner has concluded that the continued listing of AgCert could jeopardise the successful completion of the proposals, and the Company has therefore requested that the listing be cancelled. Following UKLA approval, the cancellation is effective from 08:00am today.
Any further updates will be published on the Company’s website, unless otherwise required under Irish company law.ENQUIRIES:
| College Hill | |
| Mark Garraway/Anthony Parker | +44 (0)207 4572020 |
About AgCert ™
AgCert International plc was founded in 2002 to produce and sell reductions in greenhouse gas emissions (referred to as "offsets") from agricultural sources on an industrial scale. These offsets are intended to satisfy the requirements of the Kyoto Protocol and be capable of being traded on the European cap and trade system, the European Union Emissions Trading Scheme ("EU-ETS").
AgCert ™ has identified agriculture as one of the largest commercial opportunities for Offset production and expects to be a leading supplier of offsets from this sector. Agriculture is responsible for around 20 per cent of the world's annual greenhouse gas emissions. Under the Kyoto Protocol, any reductions in greenhouse gas emissions derived from this sector qualify as CERs provided they are derived from projects that have been validated by a DOE and Registered by the UN Executive Board and are properly verified and certified according to the stringent requirements laid down by the UN.
The Group's strategy is to expand rapidly its offset production and resultant sales capacity by commencing the modification of Animal Waste Management Systems ('AWMS') on farms where it has already entered into arrangements with farmers and by rolling out its turnkey AWMS modification methods both geographically and across additional livestock species beyond its current focus on swine through the entry into contracts with additional farms.
More information about AgCert™'s greenhouse gas reduction projects can be found at www.agcert.com.
The shares of AgCert International plc (the "Shares") have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons as such term is defined in Regulation S under the Securities Act except (1) in a transaction meeting the requirements of Regulation S under the Securities Act, (2) pursuant to an effective registration statement under the Securities Act, or (3) pursuant to an available exemption from the registration requirements of the Securities Act, in each case in accordance with all applicable securities laws, including applicable state securities laws of the United States.